$200/bbl oil

dan_s · Post by **dan_s** » Mon Jan 26, 2015 5:25 pm

If global supply begins to drop as a result of today's low oil prices: Oil is in danger of rebounding to levels of $200 per barrel unless billions of dollars are invested into developing new fields despite the pressure on oil companies to make deep cutbacks in response to falling prices, the head of Opec has said.

Speaking to The Telegraph in London, Abdalla Salem el-Badri, secretary general of the Organisation of Petroleum Exporting Countries (Opec), said: “If we cut production then there will be spare capacity and producers will not invest, or postpone projects. The market will rebound back higher that the $147 we saw in 2008.”

http://www.telegraph.co.uk/finance/news ... slump.html